The Euro extended losses this morning

Pound Sterling

As the European session began the Pound was little changed against the US Dollar. Sterling softened against its safe-haven rival yesterday as investors steered clear of higher-risk assets following concerning economic news for China and the Eurozone. Pound movement could occur in the hours ahead in response to a UK retail sales survey and national home loans data.

The Pound is presently trading against the Euro in the region of 1.1735 and is trading against the US Dollar in the region of 1.5248

US Dollar

The US Dollar’s bullish relationships with its peers continued yesterday as unimpressive manufacturing and services data for the Eurozone compounded global economic concerns inspired by China’s flash manufacturing PMI. Although the safe-haven Yen was also boosted, the ‘Greenback’ was able to strengthen to 99.48 against its Asian rival.

The US Dollar is presently trading against the Pound in the region of 0.6559 and is trading against the Euro in the region of 0.7693

Euro

After manufacturing and services PMI for the Eurozone fell by more than anticipated the common currency broadly softened. The common currency extended losses this morning ahead of the publication of economic surveys for Germany, the largest economy in the 17-nation currency bloc. With both German business climate and expectations surveys declining, the Euro is likely to post further losses as the day progresses.

The Euro is presently trading against the Pound in the region of 0.8520 and is trading against the US Dollar in the region of 1.2994

Australian Dollar

The ‘Aussie’ fell against several of its main counterparts after the odds of the RBA cutting rates increased as data revealed that Australia recorded its slowest core consumer price growth for 14 years. The Australian Dollar notably dropped against the ‘Kiwi’ after the latter currency was bolstered following the RBNZ rate announcement.

The Australian Dollar is presently trading against the Pound in the region of 0.6724, is trading against the Euro in the region of 0.7877 and is trading against the US Dollar in the region of 1.0242

New Zealand Dollar

After Reserve Bank of New Zealand Governor Graeme Wheeler asserted that national growth is improving, the New Zealand Dollar rose against several of its most traded peers, notably strengthening to 84.44 US cents.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5536, is trading against the Euro in the region of 0.6493 and is trading against the US Dollar in the region of 0.8438

Canadian Dollar

Although the ‘Loonie’ slid against the US Dollar in response to disappointing data for China and the Eurozone, the currency was able to recoup losses during local trade as Canadian retail sales figures pleasantly surprised. After dropping close to a 6-week low against the ‘Greenback’ the Canadian Dollar strengthened to 97.48 US cents.

The Canadian Dollar is presently trading against the Pound in the region of 0.6397, is trading against the Euro in the region of 0.7502 and is trading against the US Dollar in the region of 0.9748

After working in business development for a major UK currency brokers for several years, Richard left Britain to help set up the company’s Australian office and now lives and works in Queensland; making the most of his new Down-Under lifestyle.

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